Press release


Monday 22 April 2013

"Today's comment from the Fabian Society is simply ludicrous." said Tim Pethick, Managing Director of Saga Magazine

"Ensuring that younger people can get on the property ladder is about supply and demand - you don't create more houses by making older people homeless.  You create more homes by freeing up sites for development and insisting that new developments include  both affordable housing for those trying to get a foot on the ladder and appropriate housing for those choosing to downsize."

"A key point to note is the impact Inflation has on different age groups.  Inflation for over 50s is, and has for sometime, been higher than for younger age groups.  The benefits of low interest rates simply haven't helped older people who have seen their pensions and savings reduce in real terms.

"By suggesting that we should start to penalise those that have lived through some of the most difficult times our economy have seen.  They have still managed to scrimp and save to make their retirement more comfortable and to ensure an inheritance for their family and this sends a very dangerous message to all age groups that will discourage people from saving to support themselves and any care needs they may have in retirement."